Question:
I have R4million invested in Preservation Pension, Provident Fund and a Retirement Annuity, please advise what I can do with the 2/3rds that has to remain invested. I would like to know about your investment products, performance and any balance remaining after my passing. Thx
Answer:
Kevin,
Only two-thirds of your pension, pension preservation fund and retirement annuity has to "remain invested" at retirement (ie used to buy either a guaranteed or a living annuity). You can cash out your provident fund in full, if you want.
10X only offers a Living Annuity as a post-retirement product; only life insurers provide guaranteed annuities.
We have just published some blog posts on the subject of living and guaranteed annuities:
- Living annuities versus guaranteed annuities
- Choosing a living annuity
- The key rules governing your 10X Living Annuity
Also see our most recent performance Fact Sheet.
The balance of your living annuity investment goes to your nominated beneficiaries on your passing.
To speak to a 10X consultant about our Living Annuity, please phone Gerhard at 021 412 1010.
